Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 10,425 $ 11,280
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 136 89
Stock-based compensation 9 74
Cumulative Translation Adjustment Realized In Net Income (258) 0
Changes in assets and liabilities:    
Inventories 2,091 189
Other current assets 1,419 (45)
Other assets (62) 5
Accounts payable (61) (840)
Income taxes payable 1,798 2,620
Accrued commissions (428) (2,923)
Other accrued expenses (1,555) 925
Deferred revenue (647) 2,445
Amounts held in eWallets 1,138 280
Other current liabilities 314 (157)
Long-term incentive (508) (120)
Net cash provided by operating activities 13,811 13,822
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (72) (240)
Net cash used in investing activities (72) (240)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of common stock 0 (18,319)
Dividends paid (4,981) (576)
Net cash used in financing activities (4,981) (18,895)
Effect of exchange rates on cash and cash equivalents (7) 30
Net increase (decrease) in cash and cash equivalents 8,751 (5,283)
CASH AND CASH EQUIVALENTS, beginning of period 125,921 104,914
CASH AND CASH EQUIVALENTS, end of period 134,672 99,631
SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION:    
Issuance of treasury stock for employee awards, net $ 1,393 $ 0